April 12, 2022

Don't Buy $MEME Review: How to use the Platform and Make Money

What Is Don't Buy $MEME?

Don't Buy $MEME, also known simply as MEME, is a platform for buying and selling exclusive NFT objects. This platform features the works of the most famous digital artists, such as FEWOCiOUS. The project runs on the Ethereum blockchain.

Jordan Lyall, head of DeFi at Consensys, is one of the creators of MEME. He invented Degenerator, a mock tool for instantly launching new DeFi projects . After publishing his work, which mocked the ease with which DeFi tokens rise in value, often without any background, Degenerator itself received a token from another developer. Thus began the popularity of this project, one of the most famous in the cryptocurrency world.

Token name

ROI USD

Market Cap

Meme Inu (MEME)

1083.71x

£3,095,043

In November 2021, the Meme token was renamed Meme Inu and moved to a new contract. At the time of writing, the price of the Meme Inu token is £0.001627.

Should You Pay Attention to This Project?

Don't Buy $MEME is a unique project. Having originated as a joke, it quickly gained popularity and attracted both many crypto-enthusiasts and many digital artists. Works by artists such as FEWOCiOUS, Diego Rodriguez, Junkyard and others can be purchased on the project website.

Advantages and Disadvantages of  Don't Buy $MEME

Advantages

Disadvantages

  • A one of a kind project
  • A large selection of NFTs made by renowned artists
  • A strong community of users
  • At the moment, only the web version of the site is available

Tokens in Don't Buy $MEME

The Don't Buy $MEME platform uses two types of tokens.

  • Pineapples are the site's internal currency with which memes are bought. To get them, you have to “invest” in any item — art, meme, or video. The investment consists of temporarily investing a certain amount of MEME into the NFT you like.
  • MEME Inu are tokens that are sold on decentralized exchanges. For example, on Uniswap or OKX Exchange. You can only invest in memes with MEME Inu.

How exactly I can make money in Don't Buy $MEME?

To earn money on the Don't Buy $MEME website, you must invest in MEME Inu memes.

Depending on how much MEME Inu you have invested in any NFT, a certain number of pineapples starts to accumulate each day. If you have invested 1 MEME, then 1 pineapple is added every day. If you put in 5 MEME Inu — 5 pineapples are added. There is usually no minimum bid and your maximum is capped at 5 MEME Inu. Lot prices range from 15 to 50 pineapples.

When the right number of pineapples is collected, you can apply for a transaction with the NFT you like. There may be a commission in ETH for some transactions, which goes towards a fee for the artist. So, you can invest some amount of MEME Inu tokens in NFT on Meme Ltd, accumulate pineapples and buy memes with them.

The advantage of investing is that the longer MEME tokens are in a meme's account, the more pineapples are accumulated and the more lots you can buy. MEMEs are deposited temporarily: they are not burned after you invest them in any NFT.

You can also earn money in Don't Buy $MEME by buying and selling memes and art via OpenSea. To buy NFT, you don't have to buy MEME Inu cryptocurrency, invest it and only after some time you will receive NFT you want. You can buy all lots at once on OpenSea.

How to buy NFT on Don't Buy $MEME?

How to buy NFT on DontBuyMEME?

To buy the memes you like on Don't Buy $MEME, you first need to buy MEME Inu tokens. You can do this on Uniswap.
Click on the “Don't buy $MEME” button on the left panel of https://dontbuymeme.com, and you will be taken to the Uniswap exchange.

After purchasing the required number of MEME tokens, return to the Don't Buy $MEME website for the next step.

Connecting a crypto wallet

Connecting a crypto wallet

The next step is to connect your crypto wallet to the Don't Buy $MEME website. In the top-left corner of the website, click on the “Connect” button. This will open a menu to connect your crypto wallet. We advise you to use MetaMask, you can read a review on this crypto wallet on our website.

Select MetaMask from the menu. This will open the crypto wallet connection interface to the website.

Connect With MetaMask

Follow the instructions on the screen. Once your cryptocurrency wallet is connected, the site's user menu will be available to you.

Selecting NFTs

Selecting NFTs

Next find the NFT you are interested in the catalogue. Click on its image to open the details. If you are happy with it, click on the “Manage Stake” button.

Manage Stake

Enter the number of MEME tokens you wish to allocate to the selected NFT. Remember that the bid is normally limited to a maximum of 5 tokens.

Click the “Stake MEME” button and confirm the transaction in MetaMask. Once the transaction is completed, your personal account will start to accumulate several Pineapples. This will depend on the number of MEME tokens you have placed. If you set up three tokens, you will receive three Pineapples per day.

When you have collected enough Pineapples, you will be able to redeem your chosen NFT.

You can find out more about how to buy NFT on Don't Buy $MEME in the video below:

Disclaimer

Investing in digital art objects can be very risky. It is worth remembering that the tokens used in Don't Buy $MEME are not only used on the site, but are also cryptocurrency traded on the exchange. This type of investment requires a balanced approach. We do not encourage you to invest your money in such products and are not responsible for any money lost. You make all investments at your own risk.

FAQ

Is Don't Buy $MEME a pyramid scheme?

Don't Buy $MEME is essentially a trading platform. This project is definitely not a pyramid scheme.

Can Don't Buy $MEME be hacked?

The developers of Don't Buy $MEME take the security of the project seriously. To date, there have not been any successful hacks of the site.

Is Don't Buy $MEME a scam in the UK?

No, Don't Buy $MEME is not a scam. The project is legal in the UK.

Conclusion

Don't Buy $MEME is a unique marketplace for buying NFTs created by digital artists. Here you can find really interesting works, which can attract attention of crypto-enthusiasts. Buying and selling NFT could be a good investment. The project's website and terms of use are simple and straightforward, and the process of exploring the site's assortment can bring a lot of fun. The fact that NFTs released on the site can also be purchased on OpenSea makes Don't Buy $MEME one of the most attractive projects for digital art lovers.

Thank you so much for reading!

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Jack Evans


I became a crypto asset owner in 2014, when the industry was in its infancy. Before that, I was working in the classic US and European stock markets. Since then, I have gained extensive experience in both cryptocurrency investing and day trading. I am happy to share with readers my experience with crypto exchanges, DeFi and NFT instruments.
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